1. Economic Principals, David Warsh. Wenzel cited this article by Warsh.
2. Mark Nestmann.
3. Kyle Bass website.
4. Mark Perry.
5. Harvard Business Review.
6. Moody’s Investors Service.
7. Gene Callahan.
8. Forbes Magazine.
10. Proven Ways of Making Money.
11. Zenconomics by Joe Withrow.
12. Martin Feldstein, MarketWatch.
13. Wall Street Journal.
14. Economist Magazine.
15. George Selgin, CATO Institute.
18. Economic Policy Journal.
19. Target Liberty.
20. Business Insider.
21. Marginal Revolution.
23. Mark Perry.
26. The Economist.
29. Economic Commentary on the Bible: Genesis to Revelation.
30. Safe Haven for Liberty.
31. Acton Institute: For the Study of Religion & Liberty.
32. Jay Taylor Media.
33. 24/7 Wall St.
34. Carl Menger Center.
35. Mashable. Digital Media, News, and Blogging. Mashable is a digital media website founded by Pete Cashmore in his home in Aberdeen, Scotland in 2005.
38. American Enterprise Institute, AEI, via Carpe Diem, via Mark J. Perry.
39. Financial Times.
40. Manhattan Institute’s Economics21 of which Diana Furchtgott-Roth is its Senior Fellow and Director.
41. Investor’s Business Daily.
42. Epic Times. Richard M. Ebeling.
43. Money & Markets, Charles Goyette.
44. Time on Money.
45. Wolf Richter. Wolf Richter covers useful and interesting topics.
46. The Macro Tourist.
MODERN MONETARY THEORY, MMT, February 8, 2019, Gary North forum:
QUESTION: It seems the Left-Wing Progressives in the US House (opponents of Pelosi) have adopted the Money Market Theory of Prof. Stephanie Kelton of U of MO.-Kansas City to justify unlimited deficit spending of the US Govt. OK as the Govt. can finance its deficits by unlimited currency printing. Would you please comment. — MP.
First of all, it is not Money Market Theory. It is called Modern Monetary Theory (MMT). I and others of the Austrian school of economics do not advocate its implementation, but it is coming whether we like it or not.
So, when something is inevitable that you don’t like, you do not throw a tantrum – you start preparing for it. MMT basically says to monetize your deficits until inflation reaches a painful point and then back off. This is what Armstrong is saying is better than taxing the population and creating debt that the interest payments are now and will continue to be un-payable. Therefore, the amount of debt to be repaid which is supposed to be a check on deficit spending is not working. So, might as well monetize it.
However, we know that inflation will reach a painful point with MMT and we also know that the politicians will not back off. So now you know what you can expect. MMT will bring us inflation good and hard.
I only hope that when MMT becomes policy, the USG will also drop taxation (yeah, I’m dreaming). I don’t think we will see hyperinflation, but I think we will see mass inflation again. When that becomes unbearable, then we have a default? How can you have a default when you can monetize as much as you need to keep the mess ticking? Who decides when the inflation is unbearable? Will we have an American version of Yellow Vests?
Read Kevin Muir’s article on The Macro Tourist site. Also go back and reread DGN’s, as well.
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